Hitachi Capital America extends its relationship with long-term software partner White Clarke Group

Hitachi Capital America has extended its software partnership with global automotive, consumer and equipment finance software company White Clarke Group. The finance provider will continue its use of the CALMS Compass software solution to manage its floorplan and wholesale finance business.

Hitachi Capital America extends its relationship with long-term software partner White Clarke Group

Oct 22, 2019

Hitachi Capital America has extended its software partnership with global automotive, consumer and equipment finance software company White Clarke Group. The finance provider will continue its use of the CALMS Compass software solution to manage its floorplan and wholesale finance business.

Sixt partners with XXImo to launch fleet mobility trial

Vehicle hire specialist Sixt has partnered with mobility platform XXImo to trial an expanded service that includes public transport. In a pilot project, called Sixt Mobility Club, a group of up to 400 drivers across Europe will exchange their company vehicles for a mobility budget that can be used to book a range of transport options for between three and six months. Participants will use XXImo’s mobility payment card and Milo app to book and pay for different forms of transport, ranging from car rental, ride hailing and car sharing to trips on public transport, within a specified mobility budget.

Sixt partners with XXImo to launch fleet mobility trial

Oct 23, 2019

Vehicle hire specialist Sixt has partnered with mobility platform XXImo to trial an expanded service that includes public transport. In a pilot project, called Sixt Mobility Club, a group of up to 400 drivers across Europe will exchange their company vehicles for a mobility budget that can be used to book a range of transport options for between three and six months. Participants will use XXImo’s mobility payment card and Milo app to book and pay for different forms of transport, ranging from car rental, ride hailing and car sharing to trips on public transport, within a specified mobility budget.

Andrew Lawson joins Oodle Car Finance as chief product officer

Oodle Car Finance has appointed Andrew Lawson as chief product officer. He joins from Zopa, the world's first peer-to-peer lender, where he spent five years as chief product officer responsible for business growth during a period of expansion that saw the brand become the UK’s largest online open market lender. Lawson (pictured) has also held several senior positions at Oliver Wyman, Capital One Bank and Experian.

Andrew Lawson joins Oodle Car Finance as chief product officer

Oct 23, 2019

Oodle Car Finance has appointed Andrew Lawson as chief product officer. He joins from Zopa, the world's first peer-to-peer lender, where he spent five years as chief product officer responsible for business growth during a period of expansion that saw the brand become the UK’s largest online open market lender. Lawson (pictured) has also held several senior positions at Oliver Wyman, Capital One Bank and Experian.

 

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The journey to pay-per-mile and beyond

Leasing companies will have to prioritise partnerships if they are to deliver the connected services that consumers will expect in future. As customer interest in servitization grows, demand for broader mobility services beyond the car will also increase, so finance providers will need to offer joined up services that support a seamless switch from one transport option to another. This means providing smartphone-based applications that offer a bundle of services through a single solution, so customers can arrange cars, parking or public transport on the same platform.

The journey to pay-per-mile and beyond

Oct 15, 2019

Leasing companies will have to prioritise partnerships if they are to deliver the connected services that consumers will expect in future. As customer interest in servitization grows, demand for broader mobility services beyond the car will also increase, so finance providers will need to offer joined up services that support a seamless switch from one transport option to another. This means providing smartphone-based applications that offer a bundle of services through a single solution, so customers can arrange cars, parking or public transport on the same platform.

 
 
 

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Asset finance companies sign up to SME Finance Charter

Leading asset finance companies have pledged their support for a new SME Finance Charter launched in a collaboration between the industry, business organisations and the government. The high-level commitments in the charter have been signed off by the Business Finance Council and reflect areas identified as being significant in ensuring that the SME finance market works effectively, particularly throughout Brexit.

Asset finance companies sign up to SME Finance Charter

Oct 22, 2019

Leading asset finance companies have pledged their support for a new SME Finance Charter launched in a collaboration between the industry, business organisations and the government. The high-level commitments in the charter have been signed off by the Business Finance Council and reflect areas identified as being significant in ensuring that the SME finance market works effectively, particularly throughout Brexit.

1link Service Network celebrates 100 millionth fleet transaction

Specialist automotive e-commerce solutions provider epyx has celebrated a business milestone after processing the 100 millionth fleet transaction through its 1link Service Network platform.  The UK-based service, maintenance and repair system revolutionised the fleet market when it was launched in 2000 as a method for major fleets to handle all transactions with franchised dealers, independent garages and fast-fits, with around 14,000 jobs now processed each day. More than four million company cars and commercial vehicles are registered on 1link, which has expanded from providing work authorisation to include vehicle acquisition, remarketing and short-term hire services.

1link Service Network celebrates 100 millionth fleet transaction

Oct 22, 2019

Specialist automotive e-commerce solutions provider epyx has celebrated a business milestone after processing the 100 millionth fleet transaction through its 1link Service Network platform.  The UK-based service, maintenance and repair system revolutionised the fleet market when it was launched in 2000 as a method for major fleets to handle all transactions with franchised dealers, independent garages and fast-fits, with around 14,000 jobs now processed each day. More than four million company cars and commercial vehicles are registered on 1link, which has expanded from providing work authorisation to include vehicle acquisition, remarketing and short-term hire services.

CPU Group partners with Great American Insurance Group to target European growth

CPU Group, a leading provider of technology device insurance, has agreed a long-term partnership with Great American Insurance Group’s European division. CPU Group is a specialist technology and asset protection provider that provides B2B insurance schemes for electronic equipment including laptops, smartphones and tablets. The agreement with Great American will support pan-European growth for both companies.

CPU Group partners with Great American Insurance Group to target European growth

Oct 22, 2019

CPU Group, a leading provider of technology device insurance, has agreed a long-term partnership with Great American Insurance Group’s European division. CPU Group is a specialist technology and asset protection provider that provides B2B insurance schemes for electronic equipment including laptops, smartphones and tablets. The agreement with Great American will support pan-European growth for both companies.

 

New position paper suggests AI offers both risks and rewards for asset finance

Asset finance providers are becoming increasingly aware of the potential for artificial intelligence to streamline processes, accelerate decision-making and deliver increased business volumes.

New position paper suggests AI offers both risks and rewards for asset finance

Oct 09, 2019

Asset finance providers are becoming increasingly aware of the potential for artificial intelligence to streamline processes, accelerate decision-making and deliver increased business volumes.

 
 
 
 

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UK consumer car finance market falls by 2% in August

Volumes for new and used car sales fell during August, compared with the same month in 2018, in the point of sale (POS) consumer new car finance market, the UK’s Finance & Leasing Association reports. While the number of new cars financed fell 2%, the total value of finance grew 2%, in part because consumers are opting for larger, more expensive vehicles, such as SUVs. The percentage of private new car sales financed by FLA members through the POS remained at 91.2% in the 12 months to August 2019.

UK consumer car finance market falls by 2% in August

Oct 21, 2019

Volumes for new and used car sales fell during August, compared with the same month in 2018, in the point of sale (POS) consumer new car finance market, the UK’s Finance & Leasing Association reports. While the number of new cars financed fell 2%, the total value of finance grew 2%, in part because consumers are opting for larger, more expensive vehicles, such as SUVs. The percentage of private new car sales financed by FLA members through the POS remained at 91.2% in the 12 months to August 2019.

Commercial vehicle finance underpins UK asset finance market growth

Commercial vehicle finance was one of the only growth markets during August for UK asset finance new business (primarily leasing and hire purchase), according to new figures from the Finance & Leasing Association. Finance for commercial vehicles was up 11% year-on-year in August and it has risen 14% over the past 12 months.

Commercial vehicle finance underpins UK asset finance market growth

Oct 21, 2019

Commercial vehicle finance was one of the only growth markets during August for UK asset finance new business (primarily leasing and hire purchase), according to new figures from the Finance & Leasing Association. Finance for commercial vehicles was up 11% year-on-year in August and it has risen 14% over the past 12 months.

New brand Moblyx launches mobile apps for fleet and mobility customers

Moblyx, an independent designer and creator of apps for the fleet and mobility sectors, has launched a range of products for the fleet and mobility market. M Inspect is a vehicle condition inspection app, while M Carpool supports the creation and control of a vehicle pool.

New brand Moblyx launches mobile apps for fleet and mobility customers

Oct 21, 2019

Moblyx, an independent designer and creator of apps for the fleet and mobility sectors, has launched a range of products for the fleet and mobility market. M Inspect is a vehicle condition inspection app, while M Carpool supports the creation and control of a vehicle pool.

 

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Key leadership changes at Invigors

Invigors, the European asset finance consulting and advisory firm, has changed its leadership and ownership structure. The new Invigors leadership team includes Paul Johnson-Ferguson and Patrick Gouin, based in Paris, Ian Robertson, based in Zurich, and Kieran O’Brien, based in Dublin, who take over with immediate effect. Existing partners Chris Boobyer, Richard Guilbert, Mike Roberts, Richard Ryan and George Tonks will leave the management team, but remain within the business as senior advisors.

Key leadership changes at Invigors

Oct 21, 2019

Invigors, the European asset finance consulting and advisory firm, has changed its leadership and ownership structure. The new Invigors leadership team includes Paul Johnson-Ferguson and Patrick Gouin, based in Paris, Ian Robertson, based in Zurich, and Kieran O’Brien, based in Dublin, who take over with immediate effect. Existing partners Chris Boobyer, Richard Guilbert, Mike Roberts, Richard Ryan and George Tonks will leave the management team, but remain within the business as senior advisors.

Klare launches all-digital insurance brokerage in Chile

Insurance specialist Klare has launched a digital-only broker platform in Chile. The company – a start-up backed by Banco Santander Chile and ZIMS – is offering an online brokerage service across multiple sectors, such as life and automotive insurance. The company says that any Chilean citizen with an ID card and credit card can access its services at any time.

Klare launches all-digital insurance brokerage in Chile

Oct 21, 2019

Insurance specialist Klare has launched a digital-only broker platform in Chile. The company – a start-up backed by Banco Santander Chile and ZIMS – is offering an online brokerage service across multiple sectors, such as life and automotive insurance. The company says that any Chilean citizen with an ID card and credit card can access its services at any time.

AT&T and Fleet Complete launch telematics service in Mexico

Telecommunications giant AT&T and Fleet Complete have launched a telematics service in Mexico. The companies are offering fleet management and telematics packages to the local commercial vehicle sector under the Fleet Complete brand. AT&T intends to use its national phone and internet coverage – said to reach close to 100 million people – to make Fleet Complete’s asset tracking and driver safety products available throughout the country.

AT&T and Fleet Complete launch telematics service in Mexico

Oct 21, 2019

Telecommunications giant AT&T and Fleet Complete have launched a telematics service in Mexico. The companies are offering fleet management and telematics packages to the local commercial vehicle sector under the Fleet Complete brand. AT&T intends to use its national phone and internet coverage – said to reach close to 100 million people – to make Fleet Complete’s asset tracking and driver safety products available throughout the country.

PSA launches Free2Move brand in Brazil

Groupe PSA has announced the launch of its fleet and mobility arm, Free2Move, in Brazil. The company debuted its Connect Fleet telematics management product at the Fenatran International Exhibition of Road Freight Transport in São Paulo. Connect Fleet is a B2B telematics fleet management system which aims to reduce total cost of ownership by focusing on vehicle tracking and data.

PSA launches Free2Move brand in Brazil

Oct 21, 2019

Groupe PSA has announced the launch of its fleet and mobility arm, Free2Move, in Brazil. The company debuted its Connect Fleet telematics management product at the Fenatran International Exhibition of Road Freight Transport in São Paulo. Connect Fleet is a B2B telematics fleet management system which aims to reduce total cost of ownership by focusing on vehicle tracking and data.

Metro Bank partners with fintechs to drive service improvements for UK SMEs

Metro Bank, the challenger bank, has announced a trio of fintech and SME partnerships in a move designed to better support hundreds of thousands of SMEs in the UK. It has partnered with alternative finance platform Funding Options, digital onboarding specialist DueDil and international trade services provider Conance. The new partnerships come as Metro Bank deploys the £120 million funding it was awarded from the Capability & Innovation Fund, alongside the bank’s own investment, to increase competition and choice in the banking sector.

Metro Bank partners with fintechs to drive service improvements for UK SMEs

Oct 16, 2019

Metro Bank, the challenger bank, has announced a trio of fintech and SME partnerships in a move designed to better support hundreds of thousands of SMEs in the UK. It has partnered with alternative finance platform Funding Options, digital onboarding specialist DueDil and international trade services provider Conance. The new partnerships come as Metro Bank deploys the £120 million funding it was awarded from the Capability & Innovation Fund, alongside the bank’s own investment, to increase competition and choice in the banking sector.

Why a flood of new technology could switch off dealership efficiency

Software has been hailed as a saviour for dealerships as it automates routine tasks and provides rapid business insights, but experts warn the growing range of platforms in use could undermine its benefits. Industry analysis found that many new systems are isolated from existing networks, which creates a series of software silos that become a burden, with multiple logins that cause added friction and demand extra effort during the daily administration of the business.

Why a flood of new technology could switch off dealership efficiency

Oct 16, 2019

Software has been hailed as a saviour for dealerships as it automates routine tasks and provides rapid business insights, but experts warn the growing range of platforms in use could undermine its benefits. Industry analysis found that many new systems are isolated from existing networks, which creates a series of software silos that become a burden, with multiple logins that cause added friction and demand extra effort during the daily administration of the business.

 

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What does the FCA’s latest review mean for the UK automotive finance industry?

The latest FCA consultation paper announcement marks the move from traditional motor finance commi...

FCA consults on banning interest rate-linked finance commission

The Financial Conduct Authority (FCA) is consulting on plans to ban the way in which some car reta...

Funding Options announces new leadership to drive future growth

Finance marketplace Funding Options has appointed Simon Cureton as the company’s interim chief exe...

Leasing companies plan for the big switch as drivers say their next car will be electric

Electric vehicles are attracting a growing army of supporters who plan to adopt zero-emission tech...

 

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